CivaTech Oncology, Inc., an early stage company developing a novel medical device for the treatment of prostate cancer, has raised $1,000,000 in a Series B private financing round. The Company was founded in 2006 by Robert and Claudia Black (two of the founders of Sicel Technologies) and Suzanne Babcock (former VP of Troxler Electronics) and is headquartered in the Park Research Center in RTP.
The product focus is on low-dose-rate brachytherapy, a type of radiation treatment for cancer utilizing implanted radioactive sources to kill tumor cells. At present, this type of brachytherapy is used predominantly for prostate cancer and makes use of so-called â€œseeds,â€ which are implanted in a minimally invasive surgical procedure. Civatech Oncologyâ€™s new device is more akin to a â€œradioactive stringâ€ that will replace the individual seeds and should provide more uniform and consistent radiation delivery to patients. Brachytherapy has been shown to be as effective as surgery and external beam radiation therapy in studies of long-term patient survival.
The Company is in the final stages of collecting the data needed to submit a 510(k) application to the FDA for its first product. Concurrently, the Company is focusing on fine-tuning the production method. The Company has established strong proprietary protection with an issued U.S. patent and pending applications based on recent work.
The goal of the Company is to provide a better product for the patient and the clinician while at the same time reduce the time and cost of manufacturing. â€œWe believe our product will become the gold standard,â€ states Dr. Black, President of CivaTech Oncology. â€œOur approach will allow clinicians to provide a customized radiation source, which will help to ensure optimized patient treatment.â€